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6819 Variel Ave

Canoga Park, CA 91303
  • $2,150,000
  • STATUS: Active
  • ON SITE: 166 days
  • ID#: 21-675552
UPDATED: 76 min ago
$2,150,000
  • 9
    BEDS
  • 0.21
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 4,380
    SQFT
  • $491
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1959
County:
Area:

School Ratings & Info

Description

WARNER CENTER DEVELOPMENT - 20% DOWN, 80% SELLER FINANCING at 4.0% INTEREST ONLY for 2 years. Currently 100% occupied, this 6-unit multi-family building sits on a 9,003 sf parcel allowing a developer to earn income while plans and entitlements are underway. Eased building restrictions in the Warner Center allow for up to 36-units with NO HEIGHT RESTRICTIONS. Special zoning only requires 1/2 parking spaces per unit and there are NO REQUIREMENTS FOR AFFORDABLE HOUSING. This property is also located in an OPPORTUNITY ZONE, giving the developer an opportunity to build 36 units and in 10 years sell the property and pay ZERO CAPITAL GAINS TAX! Please do NOT disturb the Tenants!

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-06-20T21:42:24.557. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.thepayabgroup.com/homes/112999206
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6819 Variel Ave Canoga Park, CA 91303

  • Price: $2,150,000
  • Status: Active
  • Updated: 76 min ago
  • ID#: 21-675552
9
Beds
0
Baths
0
½ Baths
0.21
Acres
4,380
SQFT
$491
$/SQFT
1959
Built
Neighborhood:
Canoga Park
County:
Los Angeles
Area:
Canoga Park
Property Description
WARNER CENTER DEVELOPMENT - 20% DOWN, 80% SELLER FINANCING at 4.0% INTEREST ONLY for 2 years. Currently 100% occupied, this 6-unit multi-family building sits on a 9,003 sf parcel allowing a developer to earn income while plans and entitlements are underway. Eased building restrictions in the Warner Center allow for up to 36-units with NO HEIGHT RESTRICTIONS. Special zoning only requires 1/2 parking spaces per unit and there are NO REQUIREMENTS FOR AFFORDABLE HOUSING. This property is also located in an OPPORTUNITY ZONE, giving the developer an opportunity to build 36 units and in 10 years sell the property and pay ZERO CAPITAL GAINS TAX! Please do NOT disturb the Tenants!
Exterior Features

Lot Size Area 9003 Other Structures None Parking Garage Assigned Total Parking 8

Interior Features

Baths Total 7.00 Cooling Wall/Window Equipment None Heating Wall

Property Features

Assessed Total Value 345791 Gross Income 103452 Gross Operating Income 103452 Like Units1 1 Like Units2 1 Like Units3 2 Like Units4 1 Like Units5 1 Net Operating Income 62071.00 Number Of Buildings 1 Number Of Units 6 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Source Lot Size Dimensions Vendor Enhanced Total Annual Expense 41381 Type Of Units 3+22+11+ Year Built Source Vendor Enhanced Zoning Lar3

Listing provided courtesy of Chase Simonton DRE#01766871 of Re/Max One.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-06-20T21:42:24.557. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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The Payab Group/Berkshire Hathaway HomeServices California Properties
16810 Ventura Blvd.
Encino CA, 91436